Businesses often face a tough choice when looking for the best office printer. They can spend considerable money on a top-of-the-line model or pick a cheap but potentially unreliable printer. However, a third option gives you the best of both worlds: a sleek model at a cost savings. Enter the printer lease.
Printers may not be the first thought when one thinks of renting, but doing so gives offices most of the benefits without the long-term commitment. Let’s explore why this might be a great fit for your workplace.
What Exactly Is a Printer Lease?
Printer leasing is pretty straightforward. Instead of buying and owning a printer, you’re essentially “borrowing” it for a set period. A printer renting service will lease and deliver printers and copiers to companies and organizations that need them. Once it arrives, you use it, get all the benefits, and when the term is up, you can decide what’s next.
Duration of the Lease
Most leases have a set timeframe. It could be a few months or even a few years. You can match the lease duration to the scope of your projects, whether they’re short sprints or long marathons. The term of a printer lease will naturally affect its total cost, so it’s the primary consideration before signing a leasing agreement.
The Cost Factor
A printer lease operates on a fixed payment schedule, usually monthly. This predictability can be a relief, especially for startups or smaller businesses that have to budget to survive.
Over time, these monthly payments can be more manageable than a large, one-time purchase expense. Still, it is worth remembering that this isn’t always the case, so consider your expenses and revenues carefully beforehand.
Maintenance and Repairs
One of the perks of leasing is that many agreements include maintenance. The printer belongs to the renting service, and they are responsible for its functioning and maintenance. This means you’re not on the hook for unexpected repair costs so long as the problem didn’t occur due to willful negligence. Plus, “maintenance included” ensures the printer runs efficiently, saving you potential downtime.
Choices at the End
When your lease term ends, you have options. Some businesses opt to buy the printer, while others prefer to upgrade so they always have the latest features and technology. And if you feel you no longer need the printer, you can return it.
If printer leasing still works for your office, you may extend it, potentially at a more favorable cost. Also, the leasing service can upgrade your plan if you need a more powerful printer model or multiple printers or copiers. On the other hand, if the printing requirements for your office decline, a more economical plan could be preferable.
Alternatively, it may turn out that a printer lease doesn’t work well with your office environment anymore. There could be an option to buy the same model from the renter or order a similar model if you decide it’s worth buying over renting.
The Upsides of a Printer Lease
There are some compelling reasons to consider leasing:
Financial Flexibility
Leasing a printer can be easier on a company’s budget. Startups, in particular, may have a heavily limited starting budget and need to cut costs any way they can until the returns on investment come. They can allocate funds to other areas without the high upfront costs of commercial printers.
Additionally, lease payments could be written off as a business expense, offering potential tax advantages. This can be a strategic move since companies can optimize their financial statements.
Staying Updated
Technology evolves rapidly – even printers. Having a printer lease lets companies upgrade to the latest models without selling or disposing of old equipment. This is particularly beneficial for staying competitive and taking advantage of technological advancements. And it also saves time as one doesn’t need to invest much of it into upgrades.
Less Downtime
With maintenance often a part of the lease agreement, you can safely expect your printer to always be in the best shape. If any problems do occur, the renting service may promptly give you a replacement printer. They will handle the servicing and repairs while you can continue operations with minimal downtime from disruptions.
Things to Ponder Before Leasing
While leasing has many perks, there are factors to consider:
Long-Term Costs
Quality printers, especially in bulk, may be costly, and printer leasing may be an answer – for a time. However, given enough time, the total cost of leasing will surpass that of buying. So keep in mind that while the initial prices are lower, the cumulative costs add up, especially if you decide to extend the lease several times.
Understand Your Agreement
Every printer lease has its terms. Make sure you’re clear on all details, especially about ending the lease early or possible hidden fees. It’s also a good idea to look for clauses about maintenance or service charges that might not be immediately obvious. Keep an eye out for what’s expected of you regarding maintenance and what assurance you get from the service.
Assess Your Situation
The printer model you’re leasing should align with your requirements. It should match your printing volume and desired features but not surpass them to the point where you’re paying for extras and power far beyond necessary. Also, consider the printer’s compatibility with your existing systems to avoid technical hiccups in the future.
The Eco-Friendly Aspect
Beyond the business benefits, going with a printer lease can be a nod to sustainability:
Reducing Electronic Waste
Leased printers often get refurbished and reused, cutting down on e-waste. According to the U.S. Environmental Protection Agency (EPA), recycling electronics conserves natural resources and avoids air and water pollution and greenhouse gas emissions from manufacturing materials.
Green Models
Leasing flexibility means you can pick more energy-efficient and eco-friendly or at least refurbished printer models. The EPA states that recycling one million laptops saves the energy equivalent to the electricity used by more than 3,500 U.S. homes in a year, and a similar logic applies to printers.
Office Printing – Should You Rent or Buy?
Printer leasing combines flexibility, cost-effectiveness, and eco-friendliness, and many businesses find this model beneficial. If you’re in Houston and this sounds intriguing, On Demand is worth a look. They’ve got a wealth of information on this topic over at their blog. And if you’re thinking of taking the plunge into a printer lease, don’t hesitate to reach out to On Demand directly.